[Leica] Kodak Earnings

[sethrosner at nycap.rr.com (Seth Rosner)]

Bill and all. Notice that excluding one-time items that include a tax refund 
of $243 million, they earned $151 million or 51c per share.

Here is a fuller report on Kodak's financial report, from today's news wire. 
It is a far better report than a quick reading of the headline or lead 
sentence suggests:

Kodak, which is in the midst of eliminating up to 25,000 jobs, lost $52 
million, or 18 cents a share, in the October-December quarter, compared with 
a loss of $59 million, or 20 cents a share, a year ago. Sales rose 12 
percent to $4.197 billion, up from $3.76 billion in last year's fourth 
quarter. Excluding one-time items, including an income tax refund that 
boosted its profit by $243 million, Kodak earned $151 million, or 51 cents a 
share. The mean forecast among analysts surveyed by Thomson Financial was 
for earnings of 39 cents a share on sales of $4.15 billion.

However, Kodak's digital profits of $161 million, hit by shortfalls in its 
health-imaging business, were not as high as analysts had hoped. "Some of us 
were looking for $175 million in digital earnings," said Ulysses Yannas, a 
broker. Digital sales reached 54 percent of total revenue in 2005, exceeding 
sales from film, paper and other chemical-based businesses for the first 
time.

Kodak found solace in its steady drive into the digital era. Its overall 
digital sales in the quarter surged 45 percent to $2.67 billion, while 
revenues from traditional businesses slumped 21 percent to $1.51 billion.

For all of 2005, Kodak lost $1.37 billion, or $4.76 a share, versus a profit 
of $556 million, or $1.94 a share, in 2004. Revenue rose 6 percent to $14.27 
billion from $13.52 billion.

Digital camera sales rose 41 percent in the quarter, while sales of home 
printers and accessories soared 65 percent and kiosk sales were up 23 
percent. But its digital and film imaging sales fell 3 percent to $2.51 
billion and its operating profit dropped to $76 million from $135 million a 
year ago.

Seth

----- Original Message ----- 
From: "Bill Clough" <bill_clough@yahoo.com>
To: "Leica Users Group" <leica-users@mejac.palo-alto.ca.us>
Sent: Monday, January 30, 2006 11:45 AM
Subject: [Leica] Kodak Earnings


> >From the Associated Press:  Eastman Kodak reports its fifth
> consecutive quarterly loss--this even as it topped Wall
> Street expectations. For the first time, Kodak says it
> generated more annual sales from digital imaging that from
> film-based technology. Largely because of restructing
> costs, Kodak lost $52 million dollars, or 18 cents a share.
>
>
>
> _______________________________________________
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>